S&P Global Ratings has assigned its 'AA' long-term rating to Orlando Utilities Commission (OUC), Fla.'s utility system revenue refunding bonds, series 2017A. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating and underlying rating (SPUR) on OUC's parity debt obligations outstanding, and its 'A-1'and 'A-1+' short-term ratings on specific variable-rate obligations of the commission. The outlook is stable. The 'AA' rating reflects what we believe to be the following credit strengths: Consistently strong financial performance and strong liquidity position, along with what we view as well-defined policies governing their use; A diverse power supply mix, with ownership interest in fossil steam, combustion turbine, and nuclear plants, supplemented by purchased power contracts; Rates that are competitive compared with
